According to the report by Expert Market Research (EMR), the global 5G IoT market size is projected to grow at a CAGR of 78.4% between 2024 and 2032. Aided by the rapid adoption of 5G technology and the expanding applications of IoT across various sectors, the market is expected to grow significantly by 2032.
5G IoT represents the integration of 5G technology in IoT systems, enabling faster, more reliable, and efficient communication between devices. This technology is a cornerstone in the evolution of smart applications, including smart cities, industrial automation, healthcare, and transportation. The high speed and low latency of 5G are critical in supporting the vast array of IoT devices, ensuring seamless connectivity and real-time data processing.
The primary driving force behind the 5G IoT market demand is the exponential growth in the number of connected devices worldwide. As industries continue to adopt IoT solutions for better efficiency and data-driven decision-making, the need for advanced connectivity solutions like 5G becomes imperative.
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Additionally, the evolution of smart cities and the emphasis on connected infrastructure have significantly bolstered the 5G IoT market growth. In smart city projects, 5G IoT is instrumental in managing everything from traffic systems to energy networks, enhancing the quality of urban life through improved connectivity and analytics.
The industrial sector, particularly manufacturing, is another major area contributing to the growth of the 5G IoT market. With the advent of Industry 4.0, factories are increasingly adopting IoT solutions for real-time monitoring, predictive maintenance, and automation, all of which are optimised by the capabilities of 5G.
According to the 5G IoT market analysis, the need for robust network infrastructure opens doors for collaborations between telecom operators, technology providers, and government entities. Similarly, the demand for secure IoT solutions presents a lucrative market for cybersecurity firms.
Geographically, the market is witnessing rapid growth across various regions. The Asia-Pacific region, led by countries like China, South Korea, and Japan, is at the forefront, driven by aggressive 5G rollouts and large-scale IoT projects. North America and Europe are also key markets, with widespread adoption of IoT in various industries and supportive government policies.
Looking ahead, the market for 5G IoT is set to transform various sectors, with emerging applications in healthcare, such as remote patient monitoring and telemedicine, and in transportation, through connected vehicles and intelligent traffic management. The integration of AI and machine learning with 5G IoT will further enhance capabilities, leading to more efficient and intelligent systems.
5G loT Market Segmentation
The market can be divided based on component, technology, end-user, and region.
Market Breakup by Component
- Hardware
- Platform
- Connectivity
- Services
- Professional Services
- Managed Services
Market Breakup by Technology
- Ultra-Reliable Low-Latency Communications (URLLC)
- Low-Power Wide-Area Network (LPWAN)
Market Breakup by End-User
- Manufacturing
- Smart Cities
- Energy and Utilities
- Transportation and Logistics
- Enterprises/Corporates
- Smart Homes
- Healthcare
- Oil and Gas
- Mining
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of 5G IoT Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global 5G IoT market. Some of the major players explored in the report by Expert Market Research are as follows:
- Nokia Corporation
- AT&T Inc.
- Cisco Systems, Inc.
- Telefonaktiebolaget LM Ericsson
- Verizon Communications Inc.
- Vodafone Limited
- Qualcomm Technologies, Inc
- Samsung Electronics Co., Ltd.
- ZTE Corporation
- Microsoft Corporation
- T-Mobile US, Inc.
- Sierra Wireless S.A.
- Bell Canada
- u-blox Holding AG
- Quectel Wireless Solutions Co., Ltd.
- Deutsche Telekom IoT GmbH
- SIMCom Wireless Solutions Limited
- Intel Corporation
- Mavenir Systems, Inc.
- Sequans Communications
- Others
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